It’s not as easy as many fictional characters like Sherlock Holmes or Eddie of Limitless portray and make us believe. Have you ever considered what might happen if you are faced with a major loss from a disaster or theft? Even if you think you can use your excellent mental capability to remember each and every destroyed or lost item to file a claim, the chances are highly unlikely.
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This is why homeowners need to create and update their home inventory. You should also ask a trusted family member or friend to keep a copy of your inventory so you can access it if your home is completely destroyed, and you cannot reach any of the copies you have stored in it. This way, you can access it immediately following a claim event. For instance, you should keep a physical copy in your home and a digital copy on your devices. Every year, you should update your inventory, making sure to add any new items that you have acquired and removing any old items no longer in your possession.Īfter creating your inventory, you need to make several copies and keep them in secure locations.For your high-value items, you should also include an appraisal report, so you can show that an expert verified the item’s listed value.For instance, you should include photos, receipts, and a written description of each possession whenever possible. Your inventory should include as much information on each item as possible.While your inventory should include every item in your possession, be particularly meticulous when documenting valuable items such as jewelry, artwork, collectibles, electronics, furniture, and so on.Do not forget to include the items in your basement, attic, and other often-forgotten storage areas. Go room to room when creating your inventory.However, there are some steps that you can take to make this process as painless as possible. The idea of documenting every item you own is daunting. Your inventory also documents the value of each item, which helps you secure an adequate amount of personal property coverage. In the event of an emergency, you can reference your inventory to see which possessions you need to file a claim for.
This is because your inventory is a comprehensive list of all the items you own. Having an updated home inventory is essential to managing your homeowners insurance. Here’s why creating an inventory for your home is so important. However, not having an updated home inventory could put you at risk. While home insurance agents recommend having a home inventory, many homeowners avoid this task because of how tedious and time consuming it is. archived articles home maintenence homeowners insurance Why You Should Make a Home Inventory Why having a home inventory is useful.